New-trains delay on Prism line

The relaunch of LTS Rail, the former 'misery line' now run by Prism Rail, has been delayed until the spring after a lengthy delay in the delivery of 44 new trains being built by Adtranz. The manufacturer was supposed to have delivered all of the four-car electric trains by November under a £130 million contract.

However, it is now unlikely that they will be ready to enter service until early next year, said chief executive Giles Fearnley. 'It's a thundering nuisance,' he said.

Although 35 of the trains have been built, they are still held up in sidings because they have not received their 'safety case' approvals from Railtrack.

Fearnley said that the extended use of 25 to 30-year-old ancient slam-door trains had held back revenue growth on the Fenchurch to Tilbury and Southend route. Once all the new trains are in service, LTS will be relaunched as c2c.

The company, which makes most of its money in the second half, reported a £1.1 million interim pretax profit in the period from 1 April to 16 October, against a £500,000 loss last time.

Passenger revenue rose 9% to £168.1 million. Earnings per share rose from 2.3p to 4.9p. As well as LTS, Prism also runs the Wales and West and Cardiff Valley's franchises and is seeking extensions of all three.